Year 2019 2020 2021 Price Of X 4 00 5 00 6 00 Prices And Quantities Quantity Of X 100 120 150 Price Of Y 2 00 2 50 1 (143.93 KiB) Viewed 9 times
Year 2019 2020 2021 Price Of X 4 00 5 00 6 00 Prices And Quantities Quantity Of X 100 120 150 Price Of Y 2 00 2 50 2 (55.31 KiB) Viewed 9 times
Year 2019 2020 2021 Price of X $4.00 $5.00 $6.00 Prices and Quantities Quantity of X 100 120 150 Price of Y $2.00 $2.50 $3.50 Quantity of Y 180 200 200 Refer to the above table and answer the following questions. i) Calculate the nominal GDP for 2019, 2020, and 2021. (3 marks) ii) Calculate the real GDP for 2019, 2020, and 2021 by using 2017 as the base year. (3 marks) iii) Calculate the GDP deflator for 2019 and 2020 and determine the economy's inflation rate. (4 marks)
Year 2019 2020 2021 Price of X $4.00 $5.00 $6.00 Prices and Quantities Quantity of X 100 120 150 Price of Y $2.00 $2.50 $3.50 Quantity of Y 180 200 200 Refer to the above table and answer the following questions. i) Calculate the nominal GDP for 2019, 2020, and 2021. (3 marks) ii) Calculate the real GDP for 2019, 2020, and 2021 by using 2019 as the base marks) year. (3 iii) Calculate the GDP deflator for 2020 and 2021 and determine the economy's inflation rate. (4 marks)
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